Business
El Tigre shareholders approve plan of arrangement with Oceanus Resources Corporation
VANCOUVER, Nov. 6, 2015 /CNW/ - Oceanus Resources Corporation ("Oceanus") (TSXV: OCN) and El Tigre Silver Corp. ("El Tigre") (TSXV: ELS) are pleased to announce
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"VANCOUVER, Nov. 6, 2015 /CNW/ - Oceanus Resources Corporation (\"Oceanus\") (TSXV: OCN) and El Tigre Silver Corp. (\"El Tigre\") (TSXV: ELS) are pleased to announce that El Tigre received the overwhelming approval of its shareholders at the special meeting (the \"Meeting\") held today to consider the previously announced acquisition of El Tigre by Oceanus by way of a plan of arrangement (the \"Arrangement\") under the Business Corporations Act (British Columbia). El Tigre will be seeking a final order of the British Columbia Supreme Court to approve the Arrangement. The final order is expected to be granted on or about November 10, 2015 (or such later date as may be agreed upon by El Tigre and Oceanus) with the Arrangement anticipated to become effective shortly thereafter on a date to be agreed by El Tigre and Oceanus. Completion of the Arrangement is subject to the satisfaction of certain other closing conditions customary of a transaction of this nature. Under the terms of the Arrangement, Oceanus will acquire all of the issued and outstanding common shares of El Tigre in exchange for 0.2839 of an Oceanus common share for each El Tigre share that is outstanding. It is further anticipated that shortly after the completion of the Arrangement, El Tigre's common shares will be delisted from the TSX Venture Exchange and that applications will be filed for El Tigre to cease to be a reporting issuer under Canadian securities laws. 71.16% of the issued and outstanding shares of El Tigre were voted in favour of the resolution approving the Arrangement. Of the votes cast by El Tigre shareholders at the Meeting, 98.9% voted in favour of the special resolution approving the Arrangement. Details of the Arrangement and certain other matters are set out in the management information circular of El Tigre dated October 6, 2015 (the \"Information Circular\"). A copy of the Information Circular and other meeting materials can be found on the SEDAR website at www.sedar.com. About Oceanus Resources Corporation Oceanus is a precious metals exploration company run by a team of experienced mine finders. Oceanus is currently advancing the La Lajita high grade gold property located in the Sierra Madre Gold and Silver Belt near Durango, Mexico. About El Tigre Silver Corp. El Tigre, through its subsidiaries, holds the rights to the mineral co...